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Vodafoneziggo Reports Preliminary Q4 2020 Results 2020 Guidance Exceeded and Synergy Target Achieved; Continue to Deliver on Convergence

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Vodafoneziggo Reports Preliminary Q4 2020 Results 2020 Guidance Exceeded and Synergy Target Achieved; Continue to Deliver on Convergence VodafoneZiggo Reports Preliminary Q4 2020 Results 2020 Guidance Exceeded and Synergy Target Achieved; Continue to Deliver on Convergence Utrecht, the Netherlands February 15, 2021: VodafoneZiggo Group B.V. (“VodafoneZiggo”), a leading Dutch company that provides fixed, mobile and integrated communication and entertainment services to consumers and businesses, is today providing select, preliminary unaudited financial1 and operating information for the three months (“Q4”) and full year (“FY”) ended December 31, 2020, as compared to the results for the same periods in the prior year (unless otherwise noted). The financial and operating information contained herein is preliminary and subject to change. We expect to issue our December 31, 2020 audited consolidated financial statements in March 2021, at which time the report will be posted to our website. Highlights for Q4 and FY 2020: • FY 2020 guidance2 exceeded: ◦ Adjusted EBITDA3 growth of 6%, above ‘4%-5%’ guidance ◦ Property and equipment additions4 were 20% of revenue vs ‘19%-21%’ guidance ◦ Total cash returns to shareholders of €501 million in line with ‘upper end of €400-€500 million’ guidance • Delivered synergy merger targets, realizing €214 million savings on a run-rate basis, one year early and ahead of the €210 million plan • Robust commercial performance despite the COVID-19 pandemic: ◦ Added 113,000 converged5 households and 247,000 converged SIMs in FY 2020, including 26,000 and 58,000 respectively in Q4, driving our converged penetration rate to 43% of internet RGUs6 and 71% of total consumer mobile postpaid SIMs7 ◦ Added a record 273,000 mobile postpaid SIMs and delivered 4% fixed ARPU8 growth with a stable broadband customer base in FY 2020 • Strong financial growth and cash flow conversion: ◦ Revenue grew 2% YoY in FY 2020 and 1% YoY in Q4, marking our seventh consecutive quarter of growth ◦ FY net loss decreased 6% YoY to €393 million primarily driven by foreign exchange gains and Adjusted EBITDA growth, partially offset by fair value changes in our derivative portfolio ◦ Adjusted EBITDA grew 6% YoY in FY 2020 to €1,877 million, supported by revenue growth and disciplined cost control, partially offset by the negative net impact of COVID-19 ◦ Operating FCF9 (Adjusted EBITDA less property and equipment additions) of €1,071 million in FY 2020, representing a 9% YoY increase • Refinanced €4.4 billion of our third-party debt in 2020 under favorable market conditions, realizing interest savings and extending the average tenor. And established a new Green Bond Framework to issue Green Bonds, enabling us to continue to invest in projects to lower our environmental impact 1 • Launched initiatives to support the Dutch society during the COVID-19 pandemic, including: ◦ Supporting parents with educational content to teach their children digital skills with ‘Online Masters’ learning program and connecting pupils with no internet at home with Ziggo WiFi- spots at no additional charge ◦ Set up a ‘Welkom Online’ helpdesk to support senior citizens in how to use digital tools to stay connected with friends and family • 2021 guidance: ◦ 1%-3% Adjusted EBITDA growth ◦ 19%-21% property and equipment additions as percentage of revenue ◦ €550 - €650 million total cash returns to shareholders Jeroen Hoencamp, VodafoneZiggo CEO, commented: “2020 proved to be an extraordinary year and I am proud of the vital role we have played in supporting the Dutch Gigabit Society during the COVID-19 pandemic. We remain committed to providing essential high-speed connectivity and the best entertainment services to our customers through our GigaNet, supported by our new in-home SmartWiFi and nationwide 5G offerings. Over three million households are already connected with 1 Gbps speeds and we continue to invest and plan to double our Gigabit footprint during 2021. We achieved our synergy target this year, realizing €214 million run-rate cost synergies one year ahead of the original plan. This marked a successful milestone in our integration journey to one company, contributing to increased customer satisfaction and supporting our convergence strategy and the turnaround in our financial performance. We have increased the Fixed Mobile Convergence penetration, delivered record mobile postpaid additions and maintained a stable broadband base. We met all of our 2020 financial targets, realizing strong revenue and Adjusted EBITDA growth despite an adverse impact from the pandemic, and we are looking forward to another year of growth in 2021 where we will continue to invest in our GigaNet and focus on network and service quality.” Consumer performance for Q4 and FY 2020: Total consumer revenue grew 1% in Q4 and 3% in FY 2020 Fixed: Consumer cable revenue10 grew 3% in Q4 and 4% in FY 2020 • Q4 and FY revenue growth was primarily driven by a 4% YoY increase of Consumer cable ARPU, more than offsetting the impact of customer decline ◦ Implemented an average 3.4% price increase as per July 1 across our customer base • Internet RGUs decreased by 24,000 in FY 2020 including 14,000 in Q4, primarily driven by increased market competition. The introduction of the new SmartWiFi package proved to be successful as customers indicate they have experienced an improvement in their in-home broadband connection • Added 81,000 new customers in Q4 to our next-generation 4K video platform Mediabox Next, bringing the total to 568,000 customers, which represents 18% of our enhanced video base. Additionally, we are upgrading our one million Mediabox XL customers, at no additional charge, to the new Mediabox Next user interface • Connected three million households in 2020 to 1 Gbps speeds as part of our DOCSIS 3.1 roll-out, which represents roughly 41% of total homes passed. We expect to achieve an 80% penetration by the end of 2021 with nationwide coverage in early 2022 2 Mobile: Consumer mobile revenue11 decreased 5% in Q4 and was stable in FY 2020 • Q4 revenue decline was the result of lower handset and accessories sales and a decrease of ARPU partially offset by strong customer base growth ◦ Q4 consumer postpaid ARPU decreased 6% YoY to €18, primarily driven by (i) differences in phasing of converged discounts compared to the prior-year period and (ii) reduced out- of-bundle roaming revenue associated with COVID-19 travel restrictions • We added 188,000 net mobile postpaid customers in FY 2020, representing our best result in four years, supported by low mobile postpaid churn. Q4 mobile postpaid customers increased by 40,000 Business performance for Q4 and FY 2020: Total B2B revenue was stable in both Q4 and FY 2020 Fixed: B2B cable revenue12 grew 9% in Q4 and 10% in FY 2020 • Revenue growth was primarily driven by growth of our SOHO (“Small Office Home Office”) and Small Business customer base and increasing demand for our Unified Communication portfolio • Added 6,000 SoHo/Small Business customers and 11,500 fixed RGUs in Q4, bringing the FY total additions to 24,000 and 51,000, respectively • Q4 SOHO cable ARPU increased 5% YoY to €61 and Q4 Small Business cable ARPU decreased 2% YoY to €81 Mobile: B2B mobile revenue13 decreased 8% in both Q4 and FY 2020 • Revenue decline in Q4 was primarily driven by (i) lower roaming out-of-bundle and visitor revenue related to COVID-19 travel restrictions, (ii) pricing pressure in the large corporate segment partially offset by (iii) customer base growth • 27,000 net mobile postpaid customers were added in Q4, bringing the FY total additions to 85,000 • B2B mobile postpaid ARPU decreased 8% YoY in Q4 to €17 driven by the aforementioned revenue headwinds • Vodafone Business has launched a new range of end-to-end Internet of Things ("IoT") services focused on smart buildings, vehicles, industry and utilities, in collaboration with IoT.nxt, supporting our customers in their digital transformation journey Financial highlights for Q4 and FY 20201: • Revenue grew 1% YoY in Q4 and 2% YoY in FY 2020, primarily driven by aggregate growth in our combined customer base and fixed ARPU growth, which more than offset €19 million of estimated COVID-19 related headwinds in Q4 and €50 million in FY 2020, of which more than 90% related to roaming, visitor and handset revenue losses. Excluding the estimated effect of COVID-19, Q4 revenue growth was in line with the previous quarters in 2020 3 • Net loss increased 121% YoY to €294 million in Q4, primarily driven by (i) higher net losses on derivative instruments, (ii) higher income tax expenses driven by a change in the enacted tax rate, partially offset by (iii) higher foreign currency transaction gains, and (iv) an increase in Adjusted EBITDA ◦ FY net loss decreased 6% YoY to €393 million, primarily driven by (i) changes in foreign currency transaction gains (losses), (ii) an increase in Adjusted EBITDA, (iii) an accrual release associated with harmonization of labor contract conditions partially offset by (iv) changes in realized and unrealized gains (losses) on derivative instruments, (v) changes in income taxes and (vi) changes in gains (losses) on debt extinguishment • Q4 Adjusted EBITDA increased 1% YoY to €460 million, marking ten consecutive quarters of growth, supported by strong revenue growth and cost control, partially offsetting the negative net impact of COVID-19. On a FY basis, Adjusted EBITDA grew 6% YoY to €1,877 million ◦ COVID-19 related revenue headwinds were partially offset by lower programming, roaming, handset, staff and marketing costs. Negative net impact of COVID-19 was estimated to be €10 million in Q4 and €15 million
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